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The CDBG program was enacted in 1974 by President Gerald Ford through the Housing and Community Development Act of 1974 and took effect in January 1975. Most directly, the law was a response to the Nixon administration's 1973 funding moratorium on many Department of Housing and Urban Development (HUD) programs.
A block grant in the United States is a grant-in-aid of a specified amount from the federal government of the United States to individual states and local governments to help support various broad purpose programs, such as law enforcement, social services, public health, and community development.
The CSBG formula determines each jurisdiction's funding level based on poverty population; once disbursed, most of the money is passed by the states and other jurisdictions to CAAs and other designated organizations to be spent on employment, education, income management, housing, nutrition, emergency services, and health. [1]
Also known as entitlement spending, in US fiscal policy, mandatory spending is government spending on certain programs that are required by law. [1] Congress established mandatory programs under authorization laws. Congress legislates spending for mandatory programs outside of the annual appropriations bill process. Congress can only reduce the ...
City and county-based housing authorities manage the Housing Choice Voucher program for the payment of rent assistance to private landlords on behalf of low-income households, as well as overseeing Community Development Block Grant (CDBG) entitlements and HOME Investment Partnerships Program (HOME) funding.
Qualified dividends are taxed at a different rate than your regular, earned income or income from interest payments. In and of themselves, regular dividends and qualified dividends are similar.
That allows you to grow your money without triggering a tax penalty. … Continue reading ->The post Roth IRA Distributions: Qualified vs. Non-Qualified appeared first on SmartAsset Blog.
Penalties on early withdrawals: Taking money early from tax-deferred accounts comes at a cost. The IRS will hit you with a 10 percent penalty if you withdraw funds from your 401(k) plan or IRA ...